Camden National (NASDAQ:CAC) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Camden National (NASDAQ:CAC) in a report published on Wednesday. The firm issued a hold rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $53.00 target price (up from $50.00) on shares of Camden National in a research report on Wednesday, January 29th. Keefe, Bruyette & Woods upped their target price on shares of Camden National from $48.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 29th.

Camden National Stock Down 0.2 %

Shares of NASDAQ:CAC opened at $36.44 on Wednesday. The business has a fifty day moving average of $41.68 and a two-hundred day moving average of $43.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.08. The stock has a market cap of $614.56 million, a P/E ratio of 10.07 and a beta of 0.61. Camden National has a 52-week low of $28.62 and a 52-week high of $50.07.

Camden National (NASDAQ:CAC) last announced its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.14. Camden National had a net margin of 18.02% and a return on equity of 10.38%. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, research analysts expect that Camden National will post 4.25 earnings per share for the current year.

Camden National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.61%. The ex-dividend date is Tuesday, April 15th. Camden National’s dividend payout ratio (DPR) is presently 46.41%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its stake in shares of Camden National by 7.4% in the 4th quarter. Franklin Resources Inc. now owns 1,311,526 shares of the financial services provider’s stock worth $56,055,000 after acquiring an additional 90,485 shares during the period. Dimensional Fund Advisors LP lifted its position in Camden National by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 858,979 shares of the financial services provider’s stock valued at $36,713,000 after purchasing an additional 15,822 shares during the period. Geode Capital Management LLC boosted its holdings in Camden National by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 344,448 shares of the financial services provider’s stock valued at $14,236,000 after purchasing an additional 4,067 shares in the last quarter. JPMorgan Chase & Co. increased its position in Camden National by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 319,794 shares of the financial services provider’s stock worth $13,668,000 after purchasing an additional 35,883 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Camden National by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 289,800 shares of the financial services provider’s stock worth $12,386,000 after buying an additional 7,500 shares in the last quarter. 77.41% of the stock is currently owned by hedge funds and other institutional investors.

About Camden National

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.